When someone says that they're leaving and you could really give two shits less that they are. Their name then becomes "felicia", a random bitch that nobody is sad to see go. They're real name becomes irrelevant because nobody cares what it really is. Instead, they now are "felicia".

A line from the 1995 film "Friday" starring Ice Cube and Chris Tucker that is becoming increasingly popular for no reason. Just like twerking, it has been around and well established for many years, but has recently become more mainstream as white girls attempt to use it, most often incorrectly and oblivious to its origin.

White girl #1: "Bye Felicia!"

White girl #2: What does that mean?
White girl #1: Look it up on Urban Dictionary.
Black girl: *facepalm*

When a person does or says something that pisses you off, instead of letting their irrelevant ass get to you, their name becomes "Felicia". You can then say the words "Bye Felicia" as a way of dismissing them from your life, and showing them they hold no relevance to you.

Person: You're a little bitch.
You: I dont have time for your bullshit you know, Bye Felicia!
Person: Who is Felicia
You: Who are you?

This is not a term you bestow on a person whom you do not care about. It is a more of a GTFO salutation, because you want nothing to do with this girl. She has nothing to offer, and is only there to try to get something for herself. She has no redeeming qualities. As noted, it is a quote from Friday. If you watch the movie, you'll understand the context.

Chick: Can I bum some weed off you?
Dude: Bye Felicia
Chick: I'll hook you up next time I'm holding.
Dude.: Bye Felicia